Question

A sum of money becomes 8/5 of itself in 5 years at a certain rate of simple Interest. Find the rate of interest. ​

Answer 1

Answer:

Let the principal money be 1.

Then compond money= 1*8/5 = 8/5

Now

Interst = compound - principal = 8/5 - 1 = 3/5

Now formula for interest

Interest = (principal×rate×time)/100

= 3/5

=(1×rate×5)/100

Therefore, Rate= 12%

Answer 2

Answer:

ur ans is 12 percent and please Thank me and mark brainliest please and please